Germany BaFin Warns Against FX and CFDs
The Federal Financial Supervisory Authority (BaFin), an independent German regulatory institution, today issued a warning against the activities of GLSSTOCKS, a company that appears to be offering forex and CFDs in Germany without complying with its financial legislation.
BaFin has also advised the public to always verify the company’s identity (identity details, country of establishment, etc.) and to never trust a company if it cannot be clearly identified.
BaFin operates as a watchdog for financial trading, securities, and markets in Germany, overseeing a variety of assets and compliance issues for traders and consumers.
Today’s warning is the latest initiative in its efforts to clamp down on companies engaging in fraudulent activities.
What can we do?
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